Deloitte welcome Robert M. Kimmitt as chairman of its newly created center for cross-border investment
Former Deputy Secretary of the U.S. Treasury brings unique breadth of experience and vision to strengthen Deloitte’s cross-border capabilities
New York – Robert M. Kimmitt has joined Deloitte as chairman of its newly created Center for Cross-Border Investment (CCBI). Through the CCBI, Kimmitt will provide counsel to Deloitte member firms on the execution of cross-border mergers, acquisitions, divestitures, and other transaction-related activities by parties including private equity investors, strategic buyers, hedge funds, sovereign wealth funds, and state owned enterprises. He will also add a strong voice to the organization’s support for free and constructive cross-border capital flow.
“Bob has extensive knowledge of the financial services industry and a deep understanding of the global regulatory environment,” said Jerry Leamon, Global Managing Partner, Services, Deloitte Touche Tohmatsu. “His perspective will be invaluable as we continue to monitor and evaluate the activities, policies, and business strategies of government-controlled financial entities, the impact of actions taken by the U.S. Treasury and foreign governments in response to the global financial crisis and recovery, and other international business trends and developments.”
The CCBI will act as a “connect point” for specialized services groups within Deloitte – such as Mergers & Acquisitions, Financial Services, the Sovereign Wealth Fund Council, certain regional strategies, and the Japanese and Chinese Services Groups – whose focus includes clients’ cross-border investment-related activities.
“Deep knowledge and relevant experience are what Deloitte clients expect,” said Deloitte Global CEO Jim Quigley. “In addition to Bob’s in-depth understanding of the U.S. capital markets, his experience in Germany, China, Japan and the Middle East will be invaluable to helping our clients achieve their business goals.”
For more than 30 years, Kimmitt has held roles in the U.S. government including Deputy Secretary of the U.S. Treasury from August 2005 through January 2009, as well as American Ambassador to Germany, Undersecretary of State for Political Affairs, General Counsel of the Treasury, and Deputy Assistant to the President for National Security Affairs at the White House. He also served as a member of the Panel of Arbitrators of the World Bank’s International Centre for the Settlement of Investment Disputes.
Before rejoining the U.S. government, Kimmitt was Senior International Counsel in the law firm of Wilmer Cutler Pickering Hale and Dorr. He was also Chairman of the International Advisory Council of Time Warner Inc., where he served as Executive Vice President, Global Public Policy from July 2001 to February 2005.
“This is a challenging time for all investors, yet one of the keys to renewed growth in the global economy must be continued and enhanced openness to the cross-border flow of investment capital,” said Kimmitt. “As Chairman of the Deloitte Center for Cross-Border Investment, I look forward to working with partners across the Deloitte organization to support this openness and the many economic benefits that it produces, from job creation to increased efficiency in world markets.”
In addition to his work with Deloitte, Kimmitt has recently returned to the law firm of WilmerHale, as a senior international counsel.
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms. As used in this article Deloitte means Deloitte Touche Tohmatsu member firms.
Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in 140 countries, Deloitte brings world-class capabilities and deep local expertise to help clients succeed wherever they operate. Deloitte’s 165,000 professionals are committed to becoming the standard of excellence.
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